Greenland Bans All Future Oil Exploration Citing Climate Concerns
July 16, 2021 at 07:12PM Greenland dropped all plans for future oil exploration on environmental grounds, saying the price of extraction was “too high.” The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. While the decision to scrap planned exploration is a win for environmental groups, it cuts off potential investments that could have aided efforts to gain economic independence from Denmark. The government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement . “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” [time-brightcove not-tgx=”true”] Ten years ago, Greenland had become a hotspot for drillers as a commodity-price boom attracted not only oil explorers but miners of diamonds, iron, rare earths and other metals. But crude’s subse...